... rapid collapse in house values for a generation and a credit crunch that has seen the number of mortage approvals more than half in less than a year. The web is taking over the world - to a pointBirmingham Post, UK -16 hours ago... Does the lender make privately or federally insured or guaranteed loans? Some mortgage loans may be backed by a federal agency, such as the Federal Housing Administration (FHA loans) or the Department of Veterans Affairs (VA loans).